Panama ready to become full member of Pacific Alliance

“Panama is ready” to become a full member in the Pacific Alliance, said President Ricardo Martinelli on March 5.

The Pacific Alliance is a trade bloc that includes Chile, Peru, Colombia and Mexico, and in which the Isthmus is an observer.

“I ask the Presidents to get our parliaments to ratify the trade agreements that have yet to be completed and, thus, become full members of the Pacific Alliance,” said Martinelli during his speech at a virtual Presidential Summit that included Felipe Calderon (Mexico), Sebastian Pinera (Chile), Ollanta Humala (Peru) and Juan Manuel Santos (Colombia).

Costa Rica, through its president, Laura Chinchilla, also participated in this virtual presidential summit and was accepted as an observer.

Stressing the benefits and opportunities that the Pacific Alliance gives to people of member countries, President Martinelli said Panama is a “logical partner” in this trading bloc, not only for its geographical position but also because it has an economic system and development model similar to other member countries.

“I have the interest and the best intentions of signing trade agreements that are waiting, for us to enter the Pacific Alliance,” said Martinelli, who estimated that this “wing of the Pacific” is another alternative for member countries to exchange goods, products and services that result in benefits and opportunities to improve the quality of life of their people. Panama is negotiating trade agreements with Colombia and Mexico.